Senate Bill No. 262

Introduced By van valkenburg, denny, thomas, halligan, foster, beck, quilici, ream



A Bill for an Act entitled: "An Act Exempting the Board of Regents From the Requirement to Pay a DECREASING BY 15 CENTS PER THOUSAND THE Fee PAID BY THE BOARD OF REGENTS For Issuance of Revenue Bonds; and amending section

17-5-2201, MCA."



Be it enacted by the Legislature of the State of Montana:



Section 1.  Section 17-5-2201, MCA, is amended to read:

"17-5-2201.   Fee for issuance of bonds. (1) Except for issuers of general obligation bonds which that are payable solely by general fund revenues revenue and revenue bonds issued by the board of regents AS PROVIDED IN SUBSECTION (2), each state bond issuer shall, upon issuance of the bonds, pay 30 cents per thousand of bonds to be deposited in the state general fund for the purpose of funding a portion of the comprehensive annual financial report audit.

(2) ISSUERS OF GENERAL OBLIGATION BONDS THAT ARE PAYABLE SOLELY BY GENERAL FUND REVENUE AND REVENUE BONDS ISSUED BY THE BOARD OF REGENTS SHALL, UPON ISSUANCE OF THE BONDS, PAY 15 CENTS PER THOUSAND OF BONDS TO BE DEPOSITED IN THE STATE GENERAL FUND FOR THE PURPOSE OF FUNDING A PORTION OF THE COMPREHENSIVE ANNUAL FINANCIAL REPORT AUDIT."

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